Low	There is no long term planning
Medium	Some long-term planning
High	There is long-term planning directly related to the venture

 

C) Can You Do It?

 

If you have reached this point, it means that your venture is both a business and sustainable (“You can keep it”). However, before you actually proceed with your venture, you must ask yourself one more question, “Can you do it.” You might have a great idea/plan, but it can be very difficult to put your idea/plan into action.

 

What is your level of core competence?

 

Your core competence is what you specialize in or in simple terms what you’re good at doing. In this case it refers to you and/or your teams experience. Have you and your team members managed a venture in the past? Are you and your team members experienced in this industry? Are you missing team resources that would help your venture succeed? These are important questions to consider to adequately evaluate you and/or your team’s capability to successfully carry out your venture.

 

Low	Team members are in-experienced in managing ventures and are not specialized in this field
Medium	Team members have some experience in managing ventures and some specialization in this field
High	If team members are very experienced in managing ventures and have specialization unique to this field

 

The New Venture Template is a powerful tool that can be used to support the viability of your business venture. If used adequately, it can help you avoid risks and be better prepared for your new venture or existing business. However, answering the above questions can be very difficult without adequate market research and business experience. If you need help assessing your existing business or new venture, please contact Abonar Business Consultants Ltd. for more information

 

< 1 2 3 4 5 6 7